CrowdStrike (NASDAQ:CRWD) Price Target Cut to $327.00

CrowdStrike (NASDAQ:CRWD) had its price target dropped by equities researchers at Sanford C. Bernstein from $334.00 to $327.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 32.72% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Mizuho dropped their price objective on CrowdStrike from $390.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Argus dropped their price objective on CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft lowered their target price on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Oppenheimer reduced their price target on shares of CrowdStrike from $450.00 to $365.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley lowered their price objective on shares of CrowdStrike from $360.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $327.16.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD opened at $246.39 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $289.69 and its two-hundred day simple moving average is $315.83. CrowdStrike has a 1-year low of $157.59 and a 1-year high of $398.33. The stock has a market cap of $59.96 billion, a PE ratio of 464.89, a price-to-earnings-growth ratio of 13.44 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. During the same period last year, the business earned $0.06 EPS. The business’s revenue was up 31.7% on a year-over-year basis. As a group, analysts forecast that CrowdStrike will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the transaction, the chief accounting officer now directly owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Anurag Saha sold 1,662 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $382.93, for a total transaction of $1,723,185.00. Following the completion of the sale, the insider now directly owns 200,672 shares of the company’s stock, valued at $76,843,328.96. The disclosure for this sale can be found here. Insiders sold a total of 130,219 shares of company stock valued at $48,856,294 over the last 90 days. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently modified their holdings of the stock. Abich Financial Wealth Management LLC bought a new stake in shares of CrowdStrike in the 2nd quarter valued at about $25,000. Family Firm Inc. bought a new stake in shares of CrowdStrike in the 2nd quarter valued at about $30,000. Itau Unibanco Holding S.A. bought a new stake in shares of CrowdStrike in the 2nd quarter valued at about $33,000. Unique Wealth Strategies LLC bought a new stake in shares of CrowdStrike in the 2nd quarter valued at about $36,000. Finally, Trivant Custom Portfolio Group LLC bought a new stake in shares of CrowdStrike in the 1st quarter valued at about $30,000. Institutional investors own 71.16% of the company’s stock.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.